Remember when CDs were a thing?

No, not those CDs.

One of our members set up an IRA around ten years ago. IRAs can be any type of account, and this one just happened to be a CD. At the maturity of the CD, the company managing it automatically rolled the money into a new CD at a much, much lower rate for another ten years. The kicker is that there is a stipulation that if he were to pull the money out early, he would be charged the equivalent of the interest he would have received for the remainder of the term. Needless to say, that was pretty fishy, what with consumer protection laws and such. After some minor phone time with the company, things will be made right. The moral of the story: open your mail, and don't be afraid to stand up for yourself.

Meanwhile, SPY has been dipping below the 200 DMA, which tells us that it has been trending down. The thought is that in general when you go below the 200 DMA, you're going to be in for a longer term downturn. If that is the case, we should try to buy around when we see the bottom or perhaps just past it.

For next week, we'll talk about estate planning.

Profit!